Trump signed another executive order today with an extension on the student loan payment relief thru December 31, 2020.
Sec. 2. Extension of Student Loan Payment Relief. (a) In light of the national emergency declared on March 13, 2020, the Secretary of Education shall take action pursuant to applicable law to effectuate appropriate waivers of and modifications to the requirements and conditions of economic hardship deferments described in section 455(f)(2)(D) of the Higher Education Act of 1965, as amended, 20 U.S.C. 1087e(f)(2)(D), and provide such deferments to borrowers as necessary to continue the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020.
Unfortunately, a lot of details are missing such as whether or not payments will still count towards PSLF (important for me!), but still good news for many people.
as of 1/1/23
That's about the only part guaranteed for federal loans and certainly a good move with what's going on. Just wish the other finer details were included, but I suppose that's to come in the following weeks similar to his original EO.
@ccquest wrote:
That's about the only part guaranteed for federal loans and certainly a good move with what's going on. Just wish the other finer details were included, but I suppose that's to come in the following weeks similar to his original EO.
Hard to know for sure. The original order was pursuant to legislative action, not executive order. Hopefully it all sticks though.
Hopefully it forces Congress to settle on something in their negotiations and get things finished up, but probably no real solid timeline for that either.
The thing that also isn't clear is just who this applies to. Like part of it says it's for those facing hardships so it might not be universal this time. Unless it is more interpreted by DOE to be continuing the CARES provisions instead of the original order he had.
The thing that also isn't clear is just who this applies to. Like part of it says it's for those facing hardships so it might not be universal this time. Unless it is more interpreted by DOE to be continuing the CARES provisions instead of the original order he had.
I received a letter (via email) from Navient this morning informing me that my autopay will resume after September 30, 2020. What Trump signed was an order suggesting that the Student loan deferrment be continued to at least December 31. The House of Representatives wanted to extend it for one more year. The Senate, who knows. But it doesn't matter. The Senate has recessed until September.
It's the only one that he can actually do/postpone though. The others are outside of his jurisdiction alone, Education is not.
As for the recess, hopefully some people are still working behind doors throughout it but who knows.
As for the recess, hopefully some people are still working behind doors throughout it but who knows.
@ccquest wrote:
It's the only one that he can actually do/postpone though. The others are outside of his jurisdiction alone, Education is not.
As for the recess, hopefully some people are still working behind doors throughout it but who knows.
I hope there are people working behind closed doors too. There are far too many people that going to impacted negatively if something isn't done soon.
